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- Economy
BUSINESS LIVE: GDP grows 0.2%; Yew Tree ups Aston Martin stake; Severn Trent eyes £1bn fundraise
Gross domestic product grew by 0.2 per cent in the second quarter of 2023, in line with expectations, fresh data from the Office for National Statistics shows. The figures confirm that the British economy is now bigger than before the pandemic. The FTSE 100 will open at 8am. Among the companies with reports and trading updates today are Aston Martin,…
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Aramco acquires a minority stake in Mid Ocean Energy for $500 million
Saudi Aramco has signed definitive agreements to acquire a strategic minority stake in Mid-Ocean Energy Company for $500 million. “Med Ocean” is one of the companies working in the field of liquefied natural gas, founded and managed by “EIG”, which is one of the largest investment institutions in the energy and infrastructure sectors globally. “Med Ocean Energy” is currently working…
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Miyazaki Hayao’s Studio Ghibli Selling Controlling Stake to NTV
Studio Ghibli, the iconic Japanese cartoon firm behind Miyazaki Hayao’s recent “The Boy and the Heron,” is selling a controlling stake to Japanese broadcaster Nippon Television (NTV). The companies said that Studio Ghibli will become a “subsidiary.” Nippon Television is to buy shares in Studio Ghibli and become its largest shareholder with 42.3% of voting rights. Executives from NTV are…
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Sorrell reels from ANOTHER profit alert as £430m is wiped off his S4 Capital stake
Sir Martin Sorrell saw a further £11million wiped off his fortune yesterday as shares in his advertising firm crashed after it issued a second profit warning. S4 Capital shares tumbled 21.7 per cent, or 20.7p, to 74.8p – taking Sorrell’s losses over the past two years to more than £430million. Sorrell owns a stake of more than 9 per cent in…
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CAA Sells Majority Stake to Francois-Henri Pinault’s Artemis
French billionaire Francois-Henri Pinault has completed his acquisition of a majority stake in Creative Artists Agency. Through his family investment company Artemis, Pinault replaces private equity player TPG as the primary holder of one of Hollywood’s superpower talent agencies. CAA, a diversified shop that makes deals on behalf of clients from Tom Cruise to the top-selling kids toys Squishmallows, joins…
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Women’s lacrosse coach at Oberlin College, Kim Russell, says she is being ‘burned at the stake’ for stance against transgender athletes after her super-woke players viciously turned on her
The head women’s lacrosse coach at Oberlin College in Ohio says she feels like she is being ‘burned at the stake’ for publicly speaking out against the inclusion of transgender women in women’s sports. For about a year now, Kim Russell has been at the center of an ongoing conflict with Oberlin’s administration after she posted her personal viewpoint on…
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Former Treasury Secretary Steven Mnuchin Fund Buys Stake In Lionsgate – Deadline
Liberty Strategic Capital, a private equity fund led by former Secretary of the Treasury Steven Mnuchin, has acquired a hefty 5.5% stake in Lionsgate at a strategically sensitive moment for the company as it prepares to close the acquisition of eOne and plans to split up its studio and streaming businesses. Lionsgate declined to comment on the news, revealed in…
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Next boosts stake in Reiss Group to 72% with £128m deal
Fashion retailer Next has joined forces with the Reiss family to acquire a significant stake in the Reiss Group. The two parties have agreed to spend £128million purchasing a 34 per cent stake in the luxury clothing chain – whose fans include the Duchess of Cambridge – from American private equity giant Warburg Pincus. Founded in 1971 as a men’s…
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BUSINESS LIVE: PensionBee losses narrow; PPHE revenues soar; Frasers ups Boohoo stake
Among the companies with reports and trading updates today are PensionBee, PPHE Group, Frasers Group, Grafton Group and Kainos Group. > If you are using our app or a third-party site click here to read Business Live . For more news: Elrisala ، For social communication, follow us on Facebook . Source of data and images: dailymail
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Paramount Global Drops Plan to Sell Majority Stake in BET
Paramount Global has decided to no longer sell a majority stake in its BET Media Group. According to The Wall Street Journal, the company announced Wednesday that it would end the bidding process for the unit — which included VH1 and BET Studios, streamer BET+ and the BET channel —because “a sale wouldn’t result in any meaningful deleveraging of its…
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